JOYY (NASDAQ:JOYY) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of JOYY (NASDAQ:JOYY) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. UBS Group assumed coverage on shares of JOYY in a research note on Wednesday, March 11th. They issued a “buy” rating and a $80.00 price objective on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of JOYY in a research note on Thursday, January 22nd. Finally, Citigroup increased their price objective on shares of JOYY from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.67.

JOYY Trading Down 1.4%

Shares of NASDAQ JOYY opened at $58.23 on Monday. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 1.49 and a beta of 0.42. JOYY has a 52 week low of $41.77 and a 52 week high of $70.96. The company’s 50-day moving average price is $59.62 and its 200 day moving average price is $62.23.

JOYY (NASDAQ:JOYY) last issued its quarterly earnings data on Saturday, February 14th. The company reported $1.34 EPS for the quarter. The firm had revenue of $581.92 million for the quarter. JOYY had a net margin of 98.79% and a return on equity of 3.93%. As a group, research analysts expect that JOYY will post 4.79 earnings per share for the current year.

JOYY Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Wednesday, April 22nd were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 9.5%. The ex-dividend date of this dividend was Wednesday, April 22nd. JOYY’s dividend payout ratio (DPR) is currently 14.09%.

Institutional Investors Weigh In On JOYY

Hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of JOYY in the third quarter worth approximately $27,000. Sittner & Nelson LLC acquired a new stake in shares of JOYY in the third quarter worth approximately $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of JOYY in the third quarter worth approximately $87,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of JOYY in the third quarter worth approximately $142,000. Finally, DGS Capital Management LLC acquired a new stake in shares of JOYY in the fourth quarter worth approximately $232,000. 36.83% of the stock is owned by institutional investors and hedge funds.

About JOYY

JOYY Inc (NASDAQ: JOYY) is a China-based technology company that develops and operates social media and live-streaming platforms. The company’s core business centers on real-time interactive video services and short-form social content, enabling users to create, share and monetize live and recorded audio-visual content. JOYY’s platforms are designed to connect creators and viewers through features such as live chat, virtual gifting and subscription-based interactions.

Products and services provided by JOYY include consumer-facing mobile and web applications that support live entertainment, social networking and short-form video consumption.